In the News (Tue 3 Mar 15)

Sir William ArthurLewis (January 23, 1915 – June 15, 1991) was a Saint Lucian economist well known for his contributions in the field of economic development.

Lewis was born in Saint Lucia, then still a British territory in the Caribbean.

Lewis then modelled the way the terms of trade between developed and developing nations are determined.

www.reference.com /browse/wiki/Arthur_Lewis_(economist) (380 words)

Sir Arthur Lewis Community College(Site not responding. Last check: )

Sir ArthurLewis, after whom this College has been named, was bestowed with the honour of Nobel Laureate in Economics in 1979 and Derek Walcott, a pillar of the literary arts achieved the title of Nobel Laureate in Literature in 1992.

William ArthurLewis, the fourth son of George Ferdinand and Ida Louisa Lewis, was born in Castries, St. Lucia, on January 23, 1915.

Arthur successfully completed his Ph.D. in 1940 and taught at the London School of Economics until 1947, the same year that he married Gladys Jacobs, a lively and dynamic young lady, originally from the island of Grenada.

The concern of the classical economists from Adam Smith to David Ricardo was the laws governing the emerging capitalist economy, characterized by wage labour, an increasingly sophisticated division of labour, the coordination of economic activities via a system of interdependent markets in which transactions are mediated through money, and rapid technical, organizational and institutional change.

Economists are subject to many vices, and one of them has been to talk about ‘utility’, which is a quantitative conception that there is no known way of measuring.

British economist who shared (with Theodore W. Schultz, an American) the 1979 Nobel Prize for Economics for his studies of economic development and his construction of an innovative model relating the terms of trade between less developed and more developed nations to their respective levels of labour productivity in agriculture.

Lewis attended the London School of Economics after winning a government scholarship.

Lewis wrote several books, including The Principles of Economic Planning (1949), The Theory of Economic Growth (1955), Development Planning (1966), Tropical Development 1880-1913 (1971), and Growth and Fluctuations 1870-1913 (1978).

With its espousal of freedom, industry and self-determination, "The Wealth of Nations" is considered a founding document of the Scottish Enlightenment, which deeply influenced the great political and philosophical movements of the modern era.

I have spent countless hours delving into its arguments about taxation, trade, public works and the division of labor, pausing for classic passages such as: "It is not from the benevolence of the butcher, the brewer, or the baker, that we can expect our dinner, but from their regard to their own interest."

From the Scottish Reformation of the 1600s to David Hume and the Enlightenment in the 1700s, from Robert Louis Stevenson in the 1800s to the devolution of 1997 that restored the Scottish Parliament for the first time in nearly 300 years, Herman conjures the spirit of a people rooted in education and reason.